Bitcoin whales intensify their accumulation amid a market correction, while small investors reduce positions due to selling pressure.
Whales holding 1.000 BTC or more increased their cryptocurrency accumulation, with their number of wallets reaching 1.436 units Last week, amid reports of massive purchases linked to Satoshi-era entities exceeding $1.000 billion, Bitcoin saw a surge in activity. This contrasts sharply with the selling pressure currently affecting the crypto market, where retail investors have reduced their holdings in response to Bitcoin's declining price.
According to Glassnode data, the number of large holders' wallets has grown steadily since the end of October, even in a context of sharp correction.
On October 27, when Bitcoin reached $114.000, the number of addresses holding more than 1.000 BTC fell to a yearly low of 1.354. However, by Tuesday, November 18, that figure had recovered by 2,2%, reaching 1.384, a four-month high. This trend suggests an accumulation strategy by institutional players or large capital holders, who take advantage of market pullbacks to strengthen their positions.
Activate your wallet and accumulate BTC like the whalesBitcoin corrects, but whales buy
This week, Bitcoin corrected to $89.000, erasing much of the gains accumulated over the past six months. Despite this drop, the price managed to stabilize and partially recover, trading around $91.000 at the time of writing.
Meanwhile, Glassnode data reveals significant capitulation among short-term holders (STH), with 95% of their supply—i.e., UTXOs less than 155 days old—in losing positions. This level surpasses even the peaks recorded during the Covid pandemic crash, which was 92%, and the FTX collapse, at 94%, indicating intense selling pressure among newer investors.
More than 65.000 BTC were sent to exchanges by these short-term holders, in transactions that reflect losses incurredThis behavior, while painful for sellers, is often exploited by large holders to accumulate assets at lower prices. In this case, whales have increased their holdings in Bitcoin, bolstering their portfolios amidst the turbulence.
Retail investors reduce positions amid uncertainty
In contrast to the so-called crypto whales, the number of wallets holding more than 1 BTC—considered small investors with some exposure—has decreased from 980.577 on October 27 to a new yearly low of 977.420 on November 17. This decline reflects a discreet but steady outflow of retail investors, who appear to prefer liquidating their positions in the face of high volatility.
Market analysts agree that this behavior is typical of retail investors, who tend to sell quickly when prices fall, creating downward pressure. In contrast, so-called "whales," or large investors, take advantage of these drops to increase their Bitcoin holdings, betting on a long-term perspective.
However, while these large players absorb some of the supply leaving the market, the most recent data indicates that selling pressure remains dominant. According to the net flow recorded at the end of October, selling pressure continues to outpace buying pressure, suggesting that the market still faces challenges and that volatility could persist for some time.
Buy Bitcoin as retailers capitulate
